Fastrip operates both "company" stores and "lease" stores. Currently, we have 44 stores leased by independent operators. We believe that with our focus on the local community, local "ownership" of the stores is a win-win. Many of our operators have been with us for 15 – 20 years, sharing in the growth and profits that a well run store generate. If you are interested in leasing a Fastrip, we are always looking for good potential operators that would be able to lease a new store or take over an existing store that might become available.
Our business model is set up where the lease operator owns their inventory and collects the profit from all store sales, along with 1 cent/gallon on all gasoline sales. The independent operator is responsible for hiring and training all the employees, all required insurance, obtaining all licenses, and all applicable taxes. Fastrip provides the building, equipment, and business support (through district manager, merchandise manager, and Director of Stores). It takes between $120,000 and $180,000 cash to get started with a Fastrip store. Upon qualification by District Manager, potential operators will receive a copy of the complete lease agreement.
To be considered as a candidate for a store we have set up a qualification process. The first step is to fill out an application which includes a background and credit check. Once an applicant is approved by the credit department the application is forwarded to the Lease Coordinator and the applicant will be contacted for an interview. The first interview is usually conducted by the local Fastrip District Manager. If the District Manager qualifies the applicant, the Director of Stores will conduct the final interview and the candidate will be notified if they qualify as a potential lease operator.
If there is a store available, the best candidate will be chosen and notified. If there are no stores available, potential operators will be notified and their application kept in an active file. If an applicant is approved for a specific location, it usually takes 45 – 60 days to complete the changeover process (can be more or less depending on the circumstances).
If you are interested in leasing a Fastrip, please click on the link below and fill out the application and FAX to our office. We look forward to meeting you.